According to the United Nations Industrial Development Organization, Corporate Social Responsibility is defined as a business management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives, while at the same time addressing the expectations of shareholders and stakeholders.
The distinction between CSR and Philanthropy/Charity is that CSR is part of a business strategy. Business operations, supply chain, and human resource are all affected by a company’s CSR policy, which is not true for its philanthropic work.
The goal of CSR is to embrace responsibility for the company’s actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere.
